A massive sell-off in the financial market on Thursday, including massive selling in the crypto market, and NQ dropping down about 800-points from the high of the day.
With several potentially market-moving reports to be released on Friday, if the impact is negative, we could see a another day of sharp decline on Friday with strong support at 20,000 which could cause a bounce.
After dropping down to major support that has been holding the NQ decline since the beginning of December 2024, the 21,000 price level, NQ traded sideways inside the prior day range, setting up a potential rally or a sell-off day.
Key intraday inflection price level on Thursday is 21,300, bullish above it, with the next resistance at 21,650, and bearish blow it, with the next major support at 20,000..
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NQ traded sideways on Monday following a very intense selling day on Friday. The momentum of the current sell-off seems very strong.
If so, we should see another large sell-off day on Tuesday. with minor support at 21,300 but strong support is at 21,000. However, we should not be surprised is 21,000 support get easily broken.
Key intraday inflection price level is 21,550, bullish above it, bearish below it.
A large down-day in the stock market on Friday with NQ dropping down over 500-points from the morning high. The low of the day is at a significant support level and there should be a bounce on Monday.
If there is NO bounce we would know that the stock market is in trouble. If so the sell-off may continue.
Key price level for NQ on Monday will be at Friday's low, 21,665, bullish above it bearish below it, with strong resistance at 21,900-21,950.
Following a brief sharp drop for NQ in the morning, dropping down to support, NQ slowly rallied back in a very choppy pattern back up to resistance, looking like a bear flag to set up Friday sell-off back to Thursday low.
Key price level to watch on Friday will be at 22,150, bearish below it, an indication NQ is going back down to re-test Thursday low, and bullish above it, implies NQ is going to continue to rally back up to retest Wednesday swing high.
In any case, Fridays tends to be choppy sideways, and the pattern is setting up for a choppy Friday trading..
A very choppy narrow range trading pattern for NQ on Wednesday as it struggled to rally just below its double-top resistance zone. It looks like NQ may need to pullback down before breaking above resistance.
Key inflection price level for NQ on Thursday will be at 22,200, bullish above it and bearish below it. with first support level at 22,085 then 21,900
NQ continued to trade in a very narrow range below key double-top resistance of around 22,400, with key support now at 22,100.
As long as NQ remains above 22,100, a breakout is coming soon, especially more so now that the S&P 500 has broken above its double-top resistance.
Breaking back below 22,100 is an indication NQ will need a pullback before breaking above its double-top. Lower support is at 21,900.
A choppy narrow range up-trending day for NQ on Friday as NQ approaches key resistance, a double-top with its all-time high.
The key question to ask ourselves here is, would NQ pullback before it breakout above double-top swing high before pulling back, or would NQ breakout and then pullback to breakout price level, 22,400. For the answer, we just have to wait and see.
Key intraday price level for NQ on Tuesday would be at 22,170, bullish above it, bearish below it.
A choppy up trending day for NQ on Thursday. On the longer term time frame, daily and weekly, NQ looks ready to breakout to new high, to the 23,000-24,000 price level once it can break above 22,100 key resistance and pushes higher.
On the intraday time frame NQ may need to pullback down to broken resistance, now support at 21,900.
However, a sustained break above 22,100 could trigger a short-covering rally. If so, we could see a large rally even on Friday when the market tends to get choppy sideways.
Higher than expected CPI print on Wednesday tanked the stock market at the open with NQ opening down to 21,550 key support. Buyers quickly came to buy triggering a rally to just below key resistance 11, 900 for NQ
Thursday trading will be interesting as NQ looks set to break above 21,900 resistance. If it does and if it can stay above 21,900 resistance we could see shorts being forced to cover. If so we could see a trending up day, higher resistances are at 22,150 and 22,250.
Financial market continue to be choppy and NQ is no exception.
NQ trading range is now between 21,900 resistance and 21,550 support. However the daily range has dropped down to 100 - 150 points as most market participants are on the sideline waiting for a breakout in either direction,
21,900 key resistance, 21,550 key support.
A very narrow range trading for NQ on Monday. On the daily chart there is really no indication of a trending moves unless NQ can break and push higher above 21,900.
Tuesday may be another choppy narrow range day again as NQ remains inside a trading range between 21,.000 - 22,000
A sideways choppy trading action for NQ on Thursday. Without any unexpected market-moving news on Friday the choppy sideways action is to continue. Another sell-off is likely to occur again on Monday next week.
Strong resistance is at 21,900 to 22,100.
On Wednesday NQ closed at the high of the day just below 21,800 resistance zone. NQ is likely to continue to rally in the morning with resistance at 21,900 - 22,100.
To do so it must break above 21,800 then 21,900. Failure to break above could attract short-sellers.
First strong support is 20,550 and it should not be broken on Thursday without any major unexpected market-moving news..
Selling may have to wait until next week Monday as long as 20,550 holds.
NQ continue to trade sideways inside a 1,000 point trading range between 21,000 support and 22,000 resistance, with 21,550 as inflection price level.
Overnight Google has sold off hard following their earning announcement. NQ is already down during after hours trading. A negative sentiment from Google could tank NQ down to its support 21,000 on Wednesday..
The market probably need more than news from Google to break the 21,000 NQ strong support.
NQ opened with a huge gap-down on Monday but then bounced off double-bottom support 21,100 then rallied back to resistance 21,500, a typical topping price action.
Key intraday price levels for NQ on Tuesday will be at 21,500 resistance and 21,300 support. A sustained break out of the rane could cause a large moves out of the range.
Upper resistance is at 21,900 and lower support is at 21,000-21,100. Price action overnight is looking bearish, an indication that 21,000 very strong support level may get broken to the downside on Tuesday.
Just like last Sunday night, the equity market has crashed again in overnight trading, down to key 21,000 key support level and has bounce a but.
Early Monday morning trading action would b key, and 21,000 would be a crucial support level.
Trading below 21,000 could trigger enough selling pressure to crash NQ down to the next support level, 20,000. It is not difficult to see NQ dropping down to 20,000 if 21,000 key support is violated.
Should there be a rally, resistance is 21,550
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